1. Bram Johnson invests $500 at the end of each quarter for 10 years. The account earns 12% interest annually. What is the value of the account at the end of 10 years?
$37,700
$37,700.60
$37,000
None of these
$3,700
2. A two-year Treasury note with $1000 maturity value pays $25 semi-annual coupons. It currently sells for $956.42. What is the duration of this T-note?
A. 2 years
B. 1.75 years
C. 1.93 years
D. 3.50 years
E. 3.85 years